- Hardcover: 320 pages
- Publisher: Texere Publishing; illustrated edition edition (21 Nov 2003)
- Language English
- ISBN-10: 1587991640
- ISBN-13: 978-1587991646
- Product Dimensions: 22.9 x 17.9 x 2.6 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 1,329,671 in Books (See Top 100 in Books)
- See Complete Table of Contents
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More About the Author
Product Description
Review
"There aren't many analysts in the world worth following. Woody Dorsey is an exception. His way of analyzing markets kept you on the right side of the markets at major and at intermediate turning points over the years. I would not like to be on the other side of a trade with Woody Dorsey."
Product Description
Have you ever wondered to what extent investor confidence and expectations impact stock market prices? In Behavioral Trading, stock market contrarian, Woody Dorsey, gives readers for the first time insight into his highly profitable proprietary market diagnosis techniques. These are often described as market expectations theory, behavioral finance and most commonly contrary opinion analysis. Dorsey's work is followed by major investors and the financial media seeks his macroeconomic perspective that is more than six months ahead of the crowd. For the first time, Woody Dorsey shows how his technique makes behavioral economics practical, accessible and understandable. He has developed his unique insights from his research of financial market probabilities during the past twenty years. Market Semiotics, both the name of Dorsey's company and his technique, is a research philosophy based on the logic of behavioral finance. In an illuminating and amusing fashion, this book offers an original and disciplined perspective that delivers precise forecasts of the market.
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Customer Reviews
Most Helpful Customer Reviews
2 of 4 people found the following review helpful
Format:Hardcover
Long time market commentator Woody Dorsey, the theorist behind market semiotics, sees Wall Street as a continuum of the agora or the medieval street fair: a place where people congregate and trade, motivated by their own psychological drives. But if investors are still behaving based on the same visceral emotions that drove exchanges of goats in ancient bazaars, what does that forecast about how the market will act today? According to Dorsey, quite a lot. Interspersed with anecdotes that range from biography to paleontology to horse training, he offers principles and techniques that explain marketplace behavior in a way investors can understand and utilize. Begin with how he scans newspapers, a methodology worth remembering, and continue through his explanation of the Triunity Theory, a new system for understanding behavioral finance. Agree or disagree with his contrarian thinking, we believe his interesting diversions and innovative economic thinking will sweep you along. Dorsey brings many subjects together, but the two most interesting are, of course, why people behave as they do and how it affects the market and your money.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
9 reviews
14 of 16 people found the following review helpful
One good concept and a lot of BLA BLA
2 Oct 2005
Format:Hardcover
Reader be advised that the author owns a consulting firm that applies Woody's proprietary model in making market forecasts and, needless to say, he's not giving out anything ...
Interestingly enough, the author criticizes the use of quantitative models, but later attempts to measure the "mood" of the market to use it in a quantitative model ... ? One more comment: the average reader of business publications expects to find some logic in the style; this is not fiction, and using a "keep the reader guessing what the author REALLY means" is no business reading.
Did you take English 101 like the rest of us?
Interestingly enough, the author criticizes the use of quantitative models, but later attempts to measure the "mood" of the market to use it in a quantitative model ... ? One more comment: the average reader of business publications expects to find some logic in the style; this is not fiction, and using a "keep the reader guessing what the author REALLY means" is no business reading.
Did you take English 101 like the rest of us?
16 of 21 people found the following review helpful
This book is overpriced.
30 July 2004
Format:Hardcover
This book is a tool for the author to market his service. I cannot get much insight nor technique out of this book. John Mauldin's Bull's Eye Investing is selling for $17 and it's packed with all the information you need about investing. For trading, I would turn to the all time classic: Reminiscences of a Stock Operator. Human behavior hasn't changed much in the past century.
20 of 27 people found the following review helpful
Excellent Insight
17 Jan 2004
Format:Hardcover
Top Mutual & Hedge Funds pay Woody's firm Market Semionics thousands for his analysis of the market. This book gives an insider's view of that anaylsis.
The firt half of the book makes the case to refute the random walk and efficient market hypothesis. The second half gives insight into understanding the mood, body & mind of the market.
Triunity Theory
For me the most insightful thing in the book was the discussion on not viewing sentiment in a vaccum. My experience in the markets has often been that high or low sentiment can not be taken without looking at the fundamentals.
I found the discussion on Trend Duration also very insightful. Woody Dorsey is an original and an indipendent thinker.
I also respect that he has applied his theories and anlysis to statistical testing and has started a hedge fund to manage money based on his theories of behavioral study.
Be suspicious of any "market guru" who just writes books, offers no statistical backing of their market edge and doesn't manage money.
Woody has made some great market calls and this book is very insightful.
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